Precious Metals Gain on Tuesday, Jan. 11

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Precious metals logged gains on Tuesday that ranged from 0.7% for palladium to 4.2% for platinum. Advances for gold and silver were their third in a row, with each metal ending the day near a one-week high.

Gold for February delivery added $19.70, or 1.1%, to settle at $1,818.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since last Wednesday, Jan. 5.

“Gold and silver futures prices are solidly higher in midday U.S. action Tuesday, boosted by positive daily outside markets that include sharply higher crude oil prices, a lower U.S. dollar index and a slight drop in U.S. Treasury yields,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,799.70 to a high of $1,820.40. They edged 0.08% higher on Monday.

Silver for March delivery tacked on 35 cents, or 1.6%, to settle at $22.812 an ounce. Like for gold, silver’s finish was its highest since last Wednesday. Silver futures traded between $22.48 and $22.82. They inched up 0.2% on Monday.

In other precious metals prices on Tuesday:

  • April platinum advanced $39.60 to $973.20 an ounce, ranging from $935.30 to $950, after falling 2.4% on Monday.

  • Palladium for March delivery rose $12.90 to $1,922.10 an ounce, trading between $1,851 and $1,937, after sliding 0.7% on Monday.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged Tuesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Tuesday Last Week This Week December 2021 Sales 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 73,500 14,000 41,000 1,115,500 87,500
$25 American Eagle 1/2 Oz Gold Coin 0 26,000 18,000 1,000 95,000 44,000
$10 American Eagle 1/4 Oz Gold Coin 0 38,000 14,000 2,000 162,000 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 115,000 35,000 0 490,000 150,000
$50 American Buffalo 1 Oz Gold Coin 0 35,000 7,000 10,500 350,500 42,000
$1 American Eagle 1 Oz Silver Coin 0 3,001,000 500,000 0 28,275,000 3,501,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 75,000 0
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 8,700 0
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 52,900 0

 

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